Since the influx of the digital age and music being sold globally, music royalty licensing companies have had their hands full.
We’ll break it down for you. There are two types of musicians concerned with this topic: the songwriter and the performing artist. These two have very different and specific copyrights: the songwriter owns the rights to the song itself (the lyrics and melody); the performing artist holds the rights to the master recording.
Music license royalties companies need to accurately collect licensing fees from music users and paying clients. Now, that sounds easy enough, but with varying contractual caveats all in varying degrees, it isn’t. This is because the copyright regulations are different in other parts of the world.
Every month, the music royalties company receives millions of playlists from every musical platform, such as Pandora, Spotify and radio stations from all over the world. These playlists include name of the artist, name of the song, as well as how many times the song was played.
So, when it comes time for calculation of their royalties, those categories and amounts have to be extremely accurate and going to the right person. If a name is misspelled, it won’t get to the right artist and they won’t get paid. Even a few cents can be a lot if we are talking on a global scale.
Data Ladder’s DataMatch Enterprise provides an immediate data quality solution, since many of these companies use programs such as Excel to manage their data. Run DataMatch Enterprise once a month to keep all data linked together and completely accurate. When dealing with A-list artists, accuracy is imperative!
Learn how DataMatch Enterprise can help your company save valuable time and drive your bottom line! Talk to one of our data matching specialists for a free demo.